Enter 4 values below

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For a standard, 30 year $50000 loan
@ 9.5% APR
with payments at end of month
calculate the monthly payment:

Calculate Months:

Your loan term is for 30 years.
Months = 12 * Years
Months = 12 * 30
Months = 360

Calculate APR:

APR  =	Annual APR
	12

APR  =	9.5
	12

  APR  =  0.0079166666666667
This is the effective interest each month.

Calculate APY:

APY = ((1+APR)¹² - 1) * 100%
APY = ((1 + 0.0079166666666667)¹² - 1) * 100%
APY = ((1.0079166666667)¹² - 1) * 100%
APY = (1.099247584081 - 1) * 100%
APY = 0.099247584081008 * 100%
APY = 9.92%

Calculate Monthly Payment:

Monthly Payment  =	Loan Amt * APR
	1 - (1/(1 + APR))n

Monthly Payment  =	50000 * 0.0079166666666667
	(1 - (1 /(1 + 0.0079166666666667))360

Monthly Payment  =	395.83333333333
	(1 - (1 / 1.0079166666667)360

Monthly Payment  =	395.83333333333
	1 - 0.99214551467549360

Monthly Payment  =	395.83333333333
	1 - 0.05849710935873

Monthly Payment  =	395.83333333333
	0.94150289064127

Monthly Payment = 420.43

You have 1 free calculations remaining

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Calculate Total Payments:

Total Payments = Monthly Payment * Months in the Loan
Total Payments = 420.43 * 360
Total Payments = $151,354.80
You will end up paying $151,354.80 - $50,000.00 = $101,354.80 above the principal on this loan.

What is the Answer?

Monthly Payment = 420.43

How does the Mortgage Calculator work?

Free Mortgage Calculator - Calculates the monthly payment, APY%, total value of payments, principal/interest/balance at a given time as well as an amortization table on a standard or interest only home or car loan with fixed interest rate. Handles amortized loans.
This calculator has 4 inputs.

What 2 formulas are used for the Mortgage Calculator?

Monthly Payment = Loan Amt * APR/(1 - (1/(1 + APR))ⁿ)

For more math formulas, check out our Formula Dossier

What 4 concepts are covered in the Mortgage Calculator?

interest

payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum, at a particular rate

loan

a thing that is borrowed, especially a sum of money that is expected to be paid back with interest.

mortgage

an agreement between you and a lender that allows you to borrow money to purchase or refinance a home and gives the lender the right to take your property if you fail to repay the money you have borrowed.

principal

The amount borrowed on a loan, before interest is charged

Example calculations for the Mortgage Calculator

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